Our London bonus plan also allows flexibility to award a limited number of larger bonuses to associates and counsel for outstanding contribution through activities that add significant value to the business.
— A spokesman for Allen & Overy, commenting on the Magic Circle firm’s new year-end bonus plan for its London associates, which is part of A&O’s efforts to compete with U.S.-based Biglaw firms with London offices. According to The Lawyer, these bonuses will be offered only to leveraged finance associates, while the firm’s spokesman told Bloomberg Law that all London associates would be eligible. No bonus specific bonus scale was mentioned.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.